SMEs to get first funding from BCPME in Jan. 2015

The first funding from banks for SMEs (BCPME) will be available beginning from January 2015, according to a forecast by the competent team at the Ministry of finance.

Following the approval of the regulator, the Government conducted the appointment of leaders and released capital amounting to 10 billion CFA francs by the State of Cameroon in its capacity as sole shareholder.

For small and medium-sized enterprises (SMEs) and small and medium-sized industries (SMIs), they can forward their funding files to benefit from this scheme as the commission has gotten the approval of the Bank of Central Africa (COBAC).

According to sources close to the case, it is not yet known how much is a fixed interest rate, even if it should not be beyond 10 percent.

The fact remains that "SMEs and SMIs of the productive sector will be preferred above others. The interesting part of the scheme is that, this bank offers low interest rates which do not exceed 10 percent.

These rates vary depending on whether one is for the short, medium or long terms and thus ranges from 3 to 10 percent.

Short-term credits are repaid in a few months, while those in the long term will have to be repaid after five to seven years.